The Progressive Corporation
PGRFinancial Services · Stock · quarterly payer
Forward Yield
6.68%
Annual Dividend
$13.90
Payout Ratio
70%
5-Yr Growth
0.0%
Ex-Date
Jul 2, 2026
Frequency
Quarterly
Summary
As of July 2026, The Progressive Corporation (PGR) yields 6.68% ($13.90 per share annually), with a blended fair-value estimate of $307.60 — +48% upside, so it screens as undervalued. Dividend safety grade: B (74/100).
Is PGR a good dividend stock?
Yes, with caveatsThe Progressive Corporation (PGR) pays a quarterly dividend yielding 6.68% ($13.90/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.
Advantages
- 116% total price return over 5 years
Risks
- Cut its dividend in 2005
Key Data
- Dividend Yield
- 6.68%
- Payout Ratio
- 70%
- Annual Dividend
- $13.90
- 5-Yr Avg Growth
- 0.0%
- Ex-Dividend Date
- Jul 2, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 0.25
- Market Cap
- $123.4B
- P/E Ratio
- 10.4
- 5-Yr Total Return
- 116%
- 52-Week Range
- $189.20 – $254.93
- Dividend Safety
- B · 74/100
- Ever Cut?
- Yes (2005)
Frequently Asked Questions
PGR Price — Last 12 Months
Daily close
Price Return
1 Year
-16%
3 Years
+56%
5 Years
+116%
52-Week Range
$189.20 – $254.93
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is PGR worth?
Undervaluedmedium confidenceOur blended fair-value estimate for The Progressive Corporation is $307.60 per share, versus a market price of $207.95. That implies 48% of upside — a margin of safety of about 32%.
Fair Value
$307.60
Current Price
$207.95
Upside
+48%
Margin of Safety
32%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model -2.7% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.0% discount rate (CAPM), -2.7% stage-1 growth, 2.5% terminal growth, $19.92 EPS, $13.90 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
PGR Dividend Safety Score
Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 2, 2026 | — | $0.1000 | regular |
| Apr 2, 2026 | — | $0.1000 | regular |
| Jan 2, 2026 | — | $13.6000 | regular |
| Oct 2, 2025 | — | $0.1000 | regular |
| Jul 3, 2025 | — | $0.1000 | regular |
| Apr 3, 2025 | — | $0.1000 | regular |
| Jan 10, 2025 | — | $4.6000 | regular |
| Oct 3, 2024 | — | $0.1000 | regular |
| Jul 3, 2024 | — | $0.1000 | regular |
| Apr 3, 2024 | — | $0.1000 | regular |
| Jan 18, 2024 | — | $0.8500 | regular |
| Oct 4, 2023 | — | $0.1000 | regular |
| Jul 6, 2023 | — | $0.1000 | regular |
| Apr 5, 2023 | — | $0.1000 | regular |
Income Calculator
At $13.90 / yr per share
